A GOSPORT businessman dubbed Britain's most generous boss has lived up to his name by vowing to donate all the profit from his latest brainwave to charity.

Colin Potter hopes his latest venture will be turning over more than £25m within three years, but he won't see a penny of the profit.

Instead, the father of two, who owns 40 per cent of the start-up sales software company ProposalGENie, plans to donate all his share of the profit to local worthy causes.

He reckons the donations could soon total more than £1m a year.

Colin, 55, hit the headlines last year when he sold Fareham communications company Uniworld for £10m and immediately gave £2m of that to his former staff.

The deal left Colin and wife Barbara financially secure, but they both still had an appetite for business and a desire to make a difference.

"I don't need the money," said Colin, who still lives in a four-bedroom home and drives a Volvo.

"I was very fortunate when we sold the other company. We live quite nicely and we have a nice lifestyle.

"All I ever wanted was to prove I could do it and have financial security. I've done that and now it's about having fun and trying to give something back.

"It's just the way I am. When you've got enough, you've got enough. What do you need more for?"

Colin is confident his new venture ProposalGENie will be a hit with businesses and raise enough to make a real difference.

"I've got big hopes. The product is fantastic and everybody says so. I'm hoping that my 40 per cent would be at least a couple of hundred thousand pounds a year but it could be £800,000 and it could be £1m. I would like to think so."

He dreamt up the idea after visiting Fareham's Rainbow Centre, which helps children with cerebral palsy.

He still advises the centre on fundraising and marketing and says it is typical of the sort of charity he hopes to finance.

"The Rainbow Centre will certainly get some of the money, but I will set up a charitable foundation to give it away. There are so many needy causes and there's never enough money for them."

Rainbow Centre co-founder Helen Somerset-How says Colin is a special person.

"I think people like Colin are few and far between," she said. "We need £18,000 a month just to stay open and that's very hard to raise. Whatever we receive will make a difference and we are very grateful."